In a jump of 16.5%, EPFO ​​added 16.26 lakh subscribers in November 2022

The data indicates a 25.67 per cent increase in net additions in October 2022 as compared to the previous month, the data showed.

Out of the total 16.26 lakh members added during the month, around 8.99 lakh new members came under the fold of EPFO ​​for the first time, indicating that the number of new members joining EPFO ​​increased from 7.28 lakh in October 2022 to 1.71 lakh Is.

Among new members, the highest enrollment is registered in the age-group of 18-21 years with 2.77 lakh members, followed by the age-group of 22-25 years with 2.32 lakh members.

Members in the age group of 18-25 years constituted 56.60% of the total new members during the month. This shows that for the first time job seekers are joining the organized sector workforce of the country in a big way.

The data also suggests that around 11.21 lakh members re-joined the EPFO ​​membership.

“These members changed their jobs and re-joined establishments covered under EPFO ​​and opted to transfer their accumulations instead of applying for final settlement, thereby extending their social security cover. “

Gender-wise analysis of payroll data shows that total enrollment of female members in November, 2022 stood at 3.19 lakh.

The net female member addition has increased by about 0.56 lakh in October 2022 from 2.63 lakh in comparison to the previous month.

The year-on-year comparison of enrollment data shows an increase of 7.90% in the net membership of women in the organized workforce in November, 2022 as compared to the net female membership during the previous year in November, 2021.

State-wise payroll data shows that the month-on-month increase in the number of net members is reflected in the states of Gujarat, Haryana, Tamil Nadu, Uttar Pradesh, Maharashtra and Rajasthan.

These states together added 58.23% of the total net subscription during the month. Among all the states, Maharashtra leads with 20% of the total member addition during the month, followed by the state of Tamil Nadu with 10.91%.

Classification of industry-wise payroll data indicates that ‘specialist services’ (consisting of manpower suppliers, general contractors, security services, miscellaneous activities, etc.) constituted 40 per cent of the total member growth during the month. On comparing the industry-wise data with the previous month, ‘Automobile Servicing’, ‘Building & Construction Industry’, ‘Engineer-Eng. Contractor’, ‘Financing Establishment’, ‘Hospital’ etc.

Payroll data is provisional because data generation is a continuous process, as is updating employee records. The previous data is therefore updated every month. In the monthly payroll data, net monthly calculation of members joining EPFO ​​for the first time through Aadhaar valid Universal Account Number (UAN), existing members exiting the coverage of EPFO ​​and members re-joining as members is taken for calculation. Payroll, it said.

EPFO is the premier organization in India responsible for social security coverage to the organized sector workforce covered under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952.